The Cayo Foundation Trustees, Report and Consolidated Financial Statements For the year ended 30 September 2025
The Cayo Foundation CONfENrs Pag¢s Trust¢¢s. OtriceTS and Advisors Trustees. Annual Report Ind¢pendent Examinerfs Report Consolidatcd Stst¢ment of Financial Activitics Balanc¢ Sheets Consolidated Statement of Cashflow 10-15 Not¢$ to the Financial Ststemcnts
The Cayo Foundation TRUSTEES, OFFICERS AND ADVISORS Trnstees: A. E. Mccarville S. A. Harris Principal Address: 59 Loampit Vale London SE13 7FR Bankers: The Royal Bank of Scotland plc 30 Nicolson Street Edinburgb EH8 9DL Butt¢rfi¢ld Bank (Guernsey) Limited P.0. Box 25 Rcg¢n¢y Court St Pclcr Port Guemscy GYI 3AP Bri(ishCarAbbean Bank Gov¢rnm¢nt Road PO Box 270 Providenciales Turks & Caicos Accountants: HB Accountants Plumpton House Plurnplon Road Hoddesdon Hertfoidshire ENII OLB Solicitors: Allen & Overy One New Change London EC4M 9(y2 Charltles Registration Number: 1080607
The Cayo Foundation TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025 The tTUStees present their report alon8 Wlth the financial statements of the Charity and its subsidiaries for the year ended 30 Scptembcr 2025. The fJnan¢ial statements have been prepared in accordance with the accounling policies S¢t out in note I to thc accounts and comply with the charity's trust deed, the Charities Act 2011 And "Accounting and Reporting by Chariles.. Stalement of Recommended Praclice applicablc to ¢harilie8 prcparing their accounts in accordance with the Financial Reporting Standard appli¢able in the UK and Republic of Ireland (FRS 102)" (as amended for accounting periods commencing from l January 2016). Structure. Eovernance and management The Charity was set up under a trust deed daied 29 November 1999. The trustees who have served during the year and since the year end are set out on page 2. Trustees aTe appointed by the board of tmslees. and serve for five years after which period they may put themselves forward for re-appoinlment. The Iruslees meet quarterly or if necessary on a more ftqueTht basis to assess grant applications from regisleied charities. The Chair of the trustees is resEKiThsible for the induction of any new tntees. This involv¢s awareness of trnstees. responsibilities, the governing document. administrative procedures, the history and philosophical approach of ihe charity- A new trustee would receive copies of the previous year's annual report and accounts and a copy of th¢ Charity Commission's guidance 'The Essential Trnstee: What You Need to Know,. The trustees have assessed the major risks to which the Charity is exposed. in particular those relating to the operations and finances of ihe Charity, and are satisfied that systems are in place to mitigate exposure to the major risks. The trust¢¢s have had due regard to guidance published by the Charity Commission on public b¢n¢fit. Objectives and activities The Charity was established in order to benefit qualified charities as defined in the trust deed. Its principle activities during the year were supporting other bodies qualifying as ¢harities under English law. The Charity considers applications for grdnts and loans from Tegistcred charities in the areas that the Charity has decided to support based OD Tecommendalions. All applications arc reviewed against specific criteria sei by the 1Thtee5. Where grants are made for specific purposes the Charity requests a report on how the grant was spent.
The Cayo Foundation TRUSTEES, ANNUAL REPORT (CONTtNUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Aebievements & Performan¢¢ The Charity's policy has been to give support to other chaTiti¢s. rather ihan directly carrying out any signifi¢ant activities of its own and this still remains a substantial proportion of the Charity's expenditure. However. when the charity is approached to fund directly the expenses of a project. consideration is given by the TNstees as lo wheiher it is worthy of their support. During the year. Charitable spending on education projects amounted to £13,180. Other types of ¢harities that benefited during the year included those involved in the areas of education. medical research and training. and perfornling at1s charities. The charity also received requests for donations and financial support to benefit oiher charilies. Financial review The general fimd of the Charity represents the fimds that are not subject lo any restriction regarding their uso and are available for application to the general purposes of the Charity. Donations amounting to £256.000 were made to 5 charitable organisations. The designated fund consists of fixd assets which by their nature are not available for use for the general purposes of the Charity. Total income for the year amounted £400,469 and after charitable expenditur¢ of £269.180 and other expenditure of £17,045 ihe nel movement in funds was £114.244 which was added to the general nd. The Trustees h&vc dccidcd that funds held in the general fund Should remain on deposit until such lime as submissions for funding are received from other charities in the areas that the Charity has decided lo support. These submissions are vetted by the Trustees and if agreed a donation is made based on ihe level of need and the reserves available for distribution at ihe time.
The Cayo Foundation TRUSTEES. ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEvfEMBER 2025 It is the policy of the Charity to maintsin the general fiind, which is the free reserves of the Charity. at a level which provides sutTicient funds lo cover any expenses and to respond to grant applications which may arise. Funds were maintained on this basis throughout th¢ year. Plans for the Future The trustees intend to continue providing grants in a similar way to the recent past continuing the emphasis on thc main areas of giving but retaining flexibility as to the timing, and scale of grant making. Trustees, Respollsibilities Under the Charities Act 2011 the trustees are required to prepare financial stateinents for each finan¢ial ycar whi¢h giv¢ a trnc and fair vi¢w of th¢ statc of affairs of thc Charity as at thc ba13nce sheet date and of the surplus or deficit for the financial year. In preparing those financial statements, the trustees are required to.- Sele¢t suitable a¢¢ounting poli¢i¢$ and then apply them consistently. Make judgements and estimates that are reasonable and prudent. Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of tbe Charity and enable them lo ensure that the financi&l slalemenls comply with the Charities Act 2012. They are also responsible for safcguarding the asscts of th¢ Charity and hcncc for taking reasonable steps for the prcvcntion and detection offrhud and other irregularities. On Behalf of ihe TteeS S. A. Ilarris Date.. IO, June2026
The Cayo Foundation INDEPENDENT EXAMNER'S REPORT TO THE TRUSTEES OF THE CAYO FOUNDATION I report to the charity trustees on my examination of the ac¢ounts of the charity for th¢ year ended 30th September 2025 which aTe set out on pages 7 to 15. ReSPODSibilitie$ #nd basls of report As the Charity's tmstees you are resw)nsible lor the preparation of the accounts in ac¢ordance with the requirements of the Charities Act 2011 ('the Acl,). I report tn respect of my examination of the charitys #ccounts ¢arri¢d out under s¢clion 145 of the Act and in caLrying out my examinalion l knv¢ followed all ibe applicable Directions given by thc Charity Commission wider s¢¢tion 145(5)(b) of the Act. Independent examlner's statement I Confirni that l am qualified to undertake the examination because J am a memb¢r of the ICAEW, which is on¢ of the listed bodies. I have ¢ompleted my examination. I confirm ihat no mat¢rial Matt have come to my altention in connection with the examination giving m¢ ¢aus¢ to believe that in any material respecl.. accounting records were not kept in respect of the charity as rcquired by section 130 of the Act. or 2. the accounts do not accord with Ihos¢ records. or 3. the accounls do not comply with the Applicabl¢ requirements concerning the forni and content of accounts sel out in the Chariti¢s (Accounts and Reporls) Regulations 2(K18 other than any requir¢m¢nt that th¢ accounts give a.tn and fair Vie which 15 not a mattcr ¢onsid¢r¢d as part of an independent examination. I have no concems and have COTn¢ across no other matters in connection with the examinalion to which attention should b¢ drawn in this report in order to enable a propcr undcrstanding of the accounts to b¢ r¢J¢h¢d. HB Accountants Chartered Accountants Plumpton House Plumpton Road Hoddcsdon Hertfordshir¢ ENII OLB Date
The Cayo Foundation CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEvfEMBER 2025 2025 2024 Unrestricted FuniL% Generdl Desi8nated Unrestricted FUjS Total Totsl Genernl D¢signat Fwids Notss Jncoming Re50ur¢es Donations Gift Aid 331.241 4.900 3.723 331.241 4,900 3,723 60,605 426,000 11,750 2,341 54,820 426,000 11,750 2,341 54,820 Interest Other Income 60.605 4CKI.469 400.469 494.911 494,911 Resources Expended Charitabl¢¢xp¢nditUT¢ Other expenditure 269.180 269.180 17.045 J63.731 363,731 17.045 22.673 22,673 286.225 286225 386,404 386,404 Surplus (deficit) for the year 114244 114244 108.507 108.507 Net mtsvement in fLmds Total 114.244 114,244 108,507 108,507 Totsl fundsbrought forward 301.502 2.591.288 2.892,790 192.995 2,591,288 2,784.283 Total funds carried forward 415.746 2.591,288 3.IM17.034 301,502 2,591.288 2,892,790
The Cayo Foundation BALANCE SHEETS AS AT 30 SEPTEMBER 2025 Notes Consolidated Charity 2025 2024 2025 2024 Fixed assets Tangible assets Investments Total fixed assets 2,5(K>,000 91,288 2,591.288 2,500,000 91,288 2,591,288 Current Assets D¢btors Cash at bank Total current assets 32,061 391,864 423,925 44,269 267.534 311,803 11,750 245,814 257.564 370,332 370.332 Liabilities Creditors.. amounts falling due within one year 8,179 10,301 64,622 26,316 Net current assets 415.746 301.502 305,710 231.248 Total assets less current liabilities 3.007.034 2.892.790 305.712 231,250 Unrestricted funds General Designated 10 io 415.746 2,591,288 301.502 2,591.288 305.712 231.250 Total funds 3.007.034 2.892,790 305,712 231.250 The financial staten]ents were approved by the Trnstees on 10 June 2026 S. A. Harris (Truslce)
The Cayo Foundaiion CONSOLIDATED STATEMENT OF CASHFLOW FOR THE YEAR ENDED 30 SEPTEMBER 2025 2025 2024 Nel Surplus for the year 114,244 108.507 Net movement in funds (Decrease) in Credilors (2,122) {11,399) Decrease l (Increase) in debtors 12.208 (18,734) Net cash outflowlinflow froTn operating activities 124,330 78,374 Cash at bank brought forward 267.534 189,160 Cash at bank at year end 391,864 267,534
The Cayo Foundation NOTES TO THE FtNANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 Accounting polities Charity information The Cayo Foundation is a Trust. The group CODSiSts of the Trust and its two subsidiarics. 1.1 A¢eountlng eonvention Th¢ financial statements have been prepared in accordance with the clwity's trust d¢¢d. the Charities Act 2011 and"Accounting and Reporting by Charities= Statement of RecomTncnded Practicc appli¢abl¢ to chaTities prepating their accounts in accordance with the Financial Reporting Standard applicabl¢ in thc UK and Republic of Ireland (FRS 102)" (as amended for accounting periods ¢omm¢n¢ing from l January 2016). The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling. which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accowiting policie$ adopted are set out below. 12 Basi5 ofcons01idation The consolidated financial statements consist of the financial 51at¢n*nls of the Trust together with those of the two subsidiaries made up to 30 Scptcmbcr 2025. IJ Going concern At ihe time of approving th¢5¢ finan¢i81 $tAtements. the trustees have a reasonable expectation that the charity has ad¢quat¢ rcsour¢¢s to continue in operalional existence for the foreseeable future. Thus thc ITUSt¢cs ¢ontinu¢ to adopt th¢ going concern basis of accounting in preparing the financial slaternenls. IA Charitabl¢ funds Unrestrict¢d fvnds ar¢ available for use at the discretion of the tNstees in furtherance of Iheir charitabl¢ obj¢¢liv¢ unless th¢ fimds have been designated for other purposes. 1.5 Incoming resource5 Income is recognised when the charity is legally entitled to IL Cash donations are recognised on receipt. Othcr donalions #rc r¢¢ognis¢d once the Charity has been notified of ihe donation. unless pcr(orniaThcc conditions Tcquir¢ d¢f¢al of th¢ amount. 10-
The Cayo Foundation NOTES TO THE FINANCIAL STATEMENfs (CONTtNUED) FOR TIIE YEAR ENDED 30 SEPTEMBER 2025 Accounting policies (Continued) 1.6 Resourees expended Basic financial liabilili¢s. including creditors and bank loans aTe initially recognis¢d at transaction pric¢ unlS th¢ arrangement constitutes a financing transaction, where the debt inslNm¢nt is mcasurcd at thc prcscnt valuc of thc fUre payments discounted at a mark¢t ratc of int¢re51. Financial liabilTti¢s ¢1&55ified as payable within one year are not amortised. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not. tbey are presented as non-curtent liabilities. Trade creditors are recognised initially at transaclion price and subsequently measured at amortised cost using the effective Interest method. 1.7 Cash and cash equivalents Cash and cash equivalents include cash in hand and deposits held at call with banks. IJ Financial In$¢ruments The charity has elected to apply the provisions of Section I I 'Basic Financial Instrnments. and Section 12 '0ther Financial Instnllnents Issues. of FRS 102 to all of its financial instrument5. Financial inslNments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instnunenl. Financial assets and liabililics are offsei, with the net amounts presentcd in thc fin8nctal statements, when ihere is a legally enforceable righi to set off the recognised amounts and there is an intention to settle on a nei basis or to realise the asset and settle the liability simultaneously. Basicfinunclal fj53ets Basic financial assets. which include debtors and cash and bank balances, are initially measured at Iransaction price including transaction c051 and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutcs a financing transaction. where the transaction is measured at the present value of the tUre r¢c¢ipts discounted at a market rdte of interest. Financial assets classified as receivable within one y¢ar are not amorlised. Bas¥cfint7ncialliabilities Basic financial liabilities, including creditors and bank loan5 are initially recognised at Iransaction price unless the arrangement conslitutes a ftnancing Iransaclion, where the dcbt instrument is measured at ihe present value of the future paymenls discounted at a market rat¢ of interest. Financial liabilities cla55ified as payable within one year are not amortised.
The Cayo Foundation NOTES TO THE FINANCIAL STATEMENfs (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 1.8 Financial Instruments (Continued) Debt instruments are subsequently carried at amortis¢d cost. Using the efftIVe interest rate method. Trade creditors are obligations to pay for good5 or scryices ihat h8v¢ bc¢n a¢qutred in the ordinary course of operations from supplicrs. Amounts payabl¢ are classified #s ciirrent liabilili¢s if payment is due within one year or less. Jf nol. they are presented as non- curr¢nt liabiliti¢s. Trade creditors are recognised initially at transaction price and subscqu¢ntly mca$ur¢d at amortised cost using the effective interest method. D¢recogMilion offinanciql liabililies Financial liabilities are derecognised when thc chaTity'5 contractuol obligations ¢xpir¢ or are discharged or cancelled. 1.9 Foreign Exf bange Transactions in currencies other than pounds sterling are recordcd at tho ratcs of cxchange prcyailing at the dates of th¢ transaclions. At each rertIng end date. monetary ass¢ts and liabilities that ar¢ denominal¢d in foreign currencies are retrdnslated at the rates prevailing on the reporting end date. Gains and Ioss¢s atising on translation in the period are included in the consolidated stalement of financial activities. Crltleal aecounting estimates and judgemellts In the application of Ihc charity's A¢¢ounling policies. the trnstees are Tequired to make judgements. estitnate5 and a55Utnptions about the carrying amount of assets and liabilities that are not readily apparent from other sourc¢s. The rstimates and asso¢iat¢d assumptions are based on historical experience and other factors that ar¢ consid¢rcd to be tel¢vant. Actual results may differ from these estimates. The estimates and underlying assumption5 are reviewed on ongoing basis. Revisions to 8¢¢ounting estimates are recognised in the pcri(Kl in which th¢ ¢stim8t¢ ts r¢vis¢d where the revision affects only that period. or in the period of the rcvision and futur¢ periods where the revision aff¢rts both current and future periods. Other Income 2025 2024 Ticket Income 60.605 54,820 Charitable Expendb¢ure Donations to other ¢harilies Charitable expenditure 256,(KJQ 13.180 269,180 355,350 8,381 363,731 12-
The Cayo Foundation NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Other Expendithre 2025 2024 Bank charge5 Jndependenl Examination Mcmbcrs Icvy costs Currency variances Other costs 421 1.620 14.836 168 330 1,980 14,764 3,917 1,682 22,673 17.045 Trustee's Emolument$ No trustee received any cmoluments or expens in respect of th¢ir s¢tVi¢¢S AS twstees. Consolidated Fixed Assets Long Leold Inve51tncnts Totsl At 30 S¢ptember 2024 And 2025 2591288 7b Cbarity Fixed Assets Investments Total At 30 September 2024 and 2025 Debtors Consolidated 2025 2024 Charity 2025 2024 D¢btors and prepayments 32.061 44,269 11.750 13
The Cayo Foundation NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 SEvfEMBER 2025 Creditors due within one year Con501idaied Charity 2025 2024 2025 2024 Oth¢r Cr¢ditors A¢cn)als 6.259 1.920 8.179 8.381 1.920 10.301 62.702 ,920 64.622 24.396 1,920 26.316 10 Fund b4lan¢e$ at 30 September 2025 Consolidated The Charity Generdl Fund Designated Fund TotAI General FutMI represented by.. Fixed Assets Debtors Cash at bank Creditors- amounts falling due within one year 2,591,288 2.591.288 44,269 267.534 32.061 391.864 370.332 (8.179) (10,301) (64,622} 415.746 2,591,288 2,892,790 305.712 11 Subsldlary Companles The Charity has two subsidiaries both of which are wholly owned and registered in the British Virgin Islands. Deanland Investmenls L The Company holds 200/¢b of the issued share capital of Miss World Holdings Limited a Company registered in England. Deanland's holding in this Company has been valued at £91,288 and is includcd in fixed asscls. 14-
The Cayo Foundation NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 11 Subsidiary Companies {Continued) Chesterlake Investments Ltd Chesterlake owns a lease on a Box at the Royal Albert Hall. The lease has 840 years to run. The lease has been valued at £2.5million based on comparable sales of similar box¢s. The Company receives tickel income and has to pay a memb¢rs levy ¢ach year. Income from ticket sales for the year ended 30 September 2025 amounted to £60.605 (2024 £54.820). The results for the year are as follows: Income 60,605 20,825 39,780 Expenditure Net income Fixed Assets Debtors Cash ai bank 2,500,(KKI 88.502 21,532 2.610.034 12 Related Party Transactions There were no related Party Trnnsactions during the year. 15